Page Inc., a computer manufacturer located in Texas, lost an uninsured building due to the infrequent and unusual occurrence of a hurricane.The building has a balance sheet value of $30,000 and will cost $165,000 to rebuild.Page's income tax rate is 40%.Calculate the amount of any extraordinary loss that should be reported on Page's income statement.Prepare a partial income statement that shows how the item will be presented.

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The Answer of Page Inc., a computer manufacturer located in Texas, lost an uninsured building due to the infrequent and unusual occurrence of a hurricane.The building has a balance sheet value of $30,000 and will cost $165,000 to rebuild.Page's income tax rate is 40%.Calculate the amount of any extraordinary loss that should be reported on Page's income statement.Prepare a partial income statement that shows how the item will be presented.

Page Inc, a Computer Manufacturer Located in Texas, Lost an Uninsured